Lindsay (NYSE:LNN) Sets New 1-Year High After Strong Earnings
Lindsay Co. (NYSE:LNN)’s stock price reached a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $174.06 and last traded at $174.01, with a volume of 152 shares changing hands. The stock had previously closed at $169.17.
The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.86 by $0.22. The firm had revenue of $143.60 million for the quarter, compared to analysts’ expectations of $132.50 million. Lindsay had a net margin of 7.89% and a return on equity of 12.26%. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be paid a $0.33 dividend. This is a positive change from Lindsay’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $1.32 annualized dividend and a yield of 0.81%. Lindsay’s dividend payout ratio is currently 35.96%.
In other Lindsay news, Director Michael Christodolou sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $148.43, for a total transaction of $148,430.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new stake in Lindsay in the 1st quarter worth about $523,000. Norges Bank bought a new stake in Lindsay during the fourth quarter worth about $10,215,000. Hsbc Holdings PLC bought a new stake in Lindsay during the fourth quarter worth about $210,000. Principal Financial Group Inc. grew its stake in Lindsay by 2.0% during the fourth quarter. Principal Financial Group Inc. now owns 83,104 shares of the industrial products company’s stock worth $10,676,000 after buying an additional 1,646 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in Lindsay in the 4th quarter valued at about $3,211,000. 87.18% of the stock is owned by institutional investors.
The stock’s fifty day moving average price is $164.61 and its two-hundred day moving average price is $132.93. The company has a market cap of $1.76 billion, a P/E ratio of 47.19 and a beta of 0.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.37 and a current ratio of 3.48.
Lindsay Company Profile (NYSE:LNN)
Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. The company operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot and Greenfield brands; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems under the GrowSmart brand.
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